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Hedge Fund Founder Named President of Citi

The founder of a $4.5 billion hedge fund has been named president of Citigroup Inc. The Harvard alumnus was just one of three executives named to senior management posts.

The New York-based holding company issued a news release Wednesday outlining changes to its senior management structure.

“This new management structure will serve the company well as we aim to enter into a new phase of responsible and sustained growth,” Citi Chief Executive Officer Vikram Pandit said in today’s announcement.

John Havens was named president of the company.

Havens, who was promoted from CEO of Citi’s institutional clients group, was also named chief operating officer of Citigroup.

He joined the company in 2007 when the hedge fund that he founded in 2005, Old Lane LP, was acquired Citi. At the time of the acquisition, Old Lane had $4.5 billion in total assets under management and private equity commitments.

Havens’ career prior to Old Lane included jobs at Morgan Stanley and Kidder Peabody.

Citi photo of John Havens

He reportedly holds a B.A. degree from Harvard University.

“John Havens is one of this company’s strongest managers and best leaders,” Pandit stated. “He’s been indispensable to the turnaround of Citi.”

Other executive activity at the firm included James A. Forese’s appointment to CEO of securities and banking and the naming of Ned Kelly as chairman of the institution clients group.

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